How Social CRM Can Help Address Changing Consumer Demands

Social collaboration-based sales and marketing technologies help companies understand and manage changing consumer demands. Learn how leading companies are incorporating collaborative sales and marketing solutions into their overall CRM strategy.

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<ul><ul><li>Web 2.0 connects consumers and stimulates fundamental changes in consumer behavior </li></ul></ul><ul><ul><li>Social platforms create a completely new paradigm for connecting with individuals </li></ul></ul><ul><ul><li>Interactions between customer and brands are starting earlier and never ending </li></ul></ul><ul><ul><li>Social relationship with customers means more than just mere on-demand attention or customer-tailored products and services </li></ul></ul>Social Media has increased the complexity to achieve superior customer experience The new Social Consumer

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<ul><li>Recent market dynamics have not stopped investments, but have forced companies to look more aggressively at costs and efficiencies . </li></ul>Economic downturn affects strategies and investments How are current economic conditions and the outlook for 2009 influencing your marketing plans and budgets? (select one) Source: “Marketing Outlook 2009 ” – Report by CMO Council sponsored by Deloitte, March/2009 As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Sharpening our focus and reducing our spend Putting more pressure on the marketing organization to produce Shifting marketing mix to more cost efficient channels Requiring big cutbacks in staff and programs Facing increased pressure to justify spend Not impacting us that much; marketing plans are intact Investing more in marketing to drive demand Other

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<ul><ul><li>Social platforms are both efficient and effective . </li></ul></ul><ul><ul><li>Social Media is the natural ecosystem where consumers engage each other and is a very effective channel to interact with them. </li></ul></ul><ul><ul><li>Web 2.0 technology and its management costs are low. The most socially engaged companies from the Top 100 global brands have increased 18% in revenue in the last 12 months </li></ul></ul>Web 2.0: Effective fit to support companies’ needs and social consumers’ demands Revenue Growth (last 12 months) Source: “ The world’s most valuable brands. Who’s most engaged?” – Report by Wetpaint and Altimeter Group, July/2009 W S B M Mavens >= 7 Social Media Channels + High engagement Butterflies >= 7 Social Media Channels + Low engagement Selectives <= 6 Social Media Channels + High engagement Wallflowers <= 6 Social Media Channels + Low engagement

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<ul><li>Improvements in any process of a company’s value chain can bring money savings and increase efficiencies. </li></ul><ul><li>However, improvements in CRM processes can support a higher jump when the economy re-emerge. </li></ul><ul><ul><li>Extract more value from your current customers </li></ul></ul><ul><ul><li>Find and focus on highly profitable customers and your brand’s promoters </li></ul></ul><ul><ul><li>Maintain your current customers loyalty to your company </li></ul></ul><ul><ul><li>Improve your lead generation capabilities </li></ul></ul><ul><li>The challenge is to make these improvements happen by investing less. </li></ul>On the other hand, Customer Relationship Management (CRM ) is key for a company to survive turbulent times

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<ul><li>“ By 2010, more than 60% of Fortune 1.000 companies will have some form of online community deployed for CRM purposes” </li></ul>Why CRM should start to think Socially? We live in a social world and customers are people Source: “The Business Impact of Social Computing on CRM ” – Report by Gartner Group, Feb/2009 Social CRM Improved CRM can help companies achieve competitive advantage when the economy turns Social Media has low cost, increased collaboration and is a key channel to engage with people New consumer and employee behavior demands new strategy, segmentation, channels, messages and processes

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Types of interactions in Social CRM Internal Social Tools Market Monitoring / Data Mining These interactions include the company performing Social CRM involved in at least one side of the communication flow. They are B2B, B2C, C2B and internal interactions These spontaneous interactions happen at the market side among customers (C2C), competitors and business partners Market-centered social interactions (outside-to-outside) Business-centered social interactions (inside-to-outside inside-to-inside) Customer-generated Social CRM Market reactions on brand or industry Existing Social Media Own Social Content Social Marketing Social Sales Social Service Customer Preferences Market Information Questions & complaints Customer-facing employee Socially-empowered employees

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<ul><li>The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decision. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle. </li></ul>Safe Harbor Statement

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<ul><li>Which is the main barrier for your company to adopt Social CRM? </li></ul><ul><ul><li>Security concerns </li></ul></ul><ul><ul><li>Lack of knowledge on Social Media </li></ul></ul><ul><ul><li>Benefits do not sound attractive </li></ul></ul><ul><ul><li>Company culture may be not adequate to make it work </li></ul></ul><ul><ul><li>Difficulty on measuring and tracking promised benefits </li></ul></ul><ul><ul><li>Don’t Know/ Not applicable </li></ul></ul>Poll question #5

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This presentation contains general information only and is based on the experiences and research of Deloitte practitioners. Deloitte is not, by means of this presentation, rendering business, financial, investment, or other professional advice or services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this presentation.

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